ASIA ENERGY LOG(00351) Earnings Summary

Bullish Points:

1. Revenue from shipping and logistics increased to HKD 48,969,000 from HKD 23,820,000.

2. Revenue from telecommunications services increased to HKD 29,129,000 from HKD 11,129,000.

3. Total revenue for the period increased to HKD 78,098,000 from HKD 34,949,000.

4. Profit for the period was HKD 65,000, compared to a loss of HKD 32,928,000 in the previous period.

5. Revenue increased by 106% in shipping and logistics, mainly due to higher charter rates and operating costs returning to normal levels after COVID-19.

6. Gross profit increased by 667% in shipping and logistics to HKD 22,289,000.

7. Telecommunications business revenue increased by 162%, mainly due to China's economic recovery and new contributions from 5G network solutions.

8. Gross profit for telecommunications business increased by 618% to HKD 6,054,000, mainly due to revenue growth and higher gross profit margin from 5G network solutions.

9. The company expects positive contributions from shipping and logistics business in the next year due to new charter contracts with higher rates.

10. Unaudited revenue for the review period increased by 123% compared to the same period in 2022.

11. Profit for the review period increased by 100% compared to the same period in 2022.

12. The company plans to acquire Tinytiger, which is expected to strengthen the group's investment portfolio and bring synergies to the existing telecommunications business.

Bearish Points:

1. Employee costs (including director remuneration) for the review period increased to approximately HKD 14,950,000 from HKD 11,772,000 as of June 30, 2022.

The final result shows that ASIA ENERGY LOG(00351) has experienced significant growth in both shipping and logistics and telecommunications businesses, with increased revenues and gross profits. The company also plans to acquire Tinytiger to strengthen its investment portfolio and bring synergies to the existing telecommunications business. However, employee costs have increased during the review period. For more information, you can read the original text of ASIA ENERGY LOG(00351)'s financial report: https://static.tigerbbs.com/4dca987175e4462ab483b26dd0a5b9f1

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